World Bank Report - Israeli Economic Abuse
World Bank Report - Israeli Economic Abuse
Amid discussions of a potential royal commission into banking practices in Australia and the revelations of international tax avoidance in the Panama Papers, the World Bank has published a report detailing Israeli economic abuse against the Palestinian people and the Palestinian economy.
The report found that the Palestinian Authority loses US$285 million annually due to existing economic arrangements with Israel. The revenue sharing arrangement was established in the Paris Protocol in April of 1994 and, despite still being applicable today, was only intended to remain in place for a period of five years.
The World Bank figure of US$285 million however, is somewhat misleading as it excludes Area C, comprising more than sixty percent of the West Bank over which Israeli Occupation forces have control. Commenting on the World Bank report, the Palestinian Minister of National Economy, Ms. Abir Odeh , stated if Area C economic losses were to be included in the calculation, total losses would stand at more than US$3 billion.
This report sheds light on one aspect of Israeli abuse against the Palestinians and demonstrates the urgent need for the support of the international community in pursuit of just solutions to the conflict.
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For the GDOP's Special Report click here
For the World Bank's report click here